The ICAEW has objected to the limited amount of time given to debating the contents of the Bill.

Francesca Lagerberg, senior consultant to the Institute’s Tax Faculty, said: ‘We’ve seen frequently in the past that tax changes enacted in a tight Budget timetable are often ill considered, subject to little or no parliamentary scrutiny, and are pushed through with inadequate time for consultation.’

She added: ‘The Finance Bill had all the hallmarks of hasty legislation.’

As an example, Lagerberg pointed to the aggregates levy, a new tax with over 30 clauses and seven schedule, which she said, ‘has been rushed through the main body of the House of Commons in under a day’.

She concluded: ‘We are urging all political parties to consider tax reform before the election to ensure a more democratically accountable approach to the legislation in the future.’